Source: Daily_Mail
Premier League parachute payments set to be extended to four years
The Premier League are confident they can extend parachute payments to four years by increasing the solidarity package paid to their Football League counterparts by 30 per cent. [LNB]It would see those clubs relegated to the Championship pick up £16million for two years and then a further £8m for the following two seasons.[LNB]The new parachute payment system would come into effect from the end of the next season. [LNB] Damaged parachute: Relegated Pompey would miss out on the new deal [LNB]The Premier League insisted, however, that no final decision had been taken. [LNB]The league said in a statement: 'Contrary to some reports emanatingfrom the Premier League club meeting today, no decision was takenregarding the future structure of parachute payments. This issue wasnot discussed in any detail or voted on. [LNB]'Any decision regarding the future structure of parachute paymentscannot be taken by the Premier League alone and must be agreed with theFootball League. [LNB]'The Premier League is currently in positive discussions with theFootball League on a number of issues; however an announcement willonly be made once these have reached a satisfactory conclusion.'[LNB] Hard-up Pompey can net £3.2m from FA Cup but still lose out on EuropePremier League may extend parachute payments for relegated clubs [LNB]
